The International Bank of Qatar, a leading bank in Qatar, has signed a five-year tie-up with the ai Corporation, a leading provider of fraud detection and merchant risk management solutions, for the provision of its RiskNet Issuer system.

“IBQ is committed to providing its cardholders with safe, secure and reliable card payment services,” said Ian Hudson, head of cards at IBQ.

“As part of our strategy to reduce fraud and its impact on our cardholders, we have developed a number of initiatives including the adoption of RiskNet Issuer,” he added.

Mark Carter, CEO of The ai Corporation, said: “Although the incidence of financial fraud in the Middle East has been traditionally lower than some other regions, it is posing an increasing threat and progressive banks like IBQ are investing in our technology.”

“Our flagship solution RiskNet currently protects more than 50 banks in the Middle East region and we expect this number to increase substantially in the next 12 months. We are delighted to have been selected by IBQ in their fight against fraud and look forward to collaborating with them.”

Hudson continued: “We selected the ai Corporation because of its focus and expertise; they really understand fraud and this is reflected in the sophistication of their products.”

“We were very impressed with functional depth of RiskNet Issuer. RiskNet Issuer also provides many value-added features such as case management that will help IBQ to conduct its business more efficiently,” he concluded. – TradeArabia News Service